The second stage of "Eco-Damu" crediting was launched in Kazakhstan. A total of 288 million tenge will be provided to agricultural producers by the Fund for Financial Support of Agriculture together with the UN Development Program, World of NAN reports with reference to the press service of JSC "Fund for Financial Support of Agriculture".
As it was noted by the Fund, the program is aimed to support environmentally friendly entrepreneurship and is designed for residents of rural areas of Kazakhstan, living in the vicinity of protected areas.
Under the crediting program, rural entrepreneurs will be able to get a loan for business projects for up to 5 years at 6% per annum. The effective interest rate will not exceed 6.7% per annum.
" An amount of loan per borrower is provided from 100 MCI up to 5400 MCI, established by the National Bank of the Republic of Kazakhstan at the moment of project financing. Particular attention will be paid to the development of projects in rural areas that are not harmful to the environment and contribute to the sustainable preservation of ecosystems. These are ecotourism, forestry, fish farming, hunting and pasturing, poultry farming, rabbit and bee keeping," the press service informed.
Phase II of "Eco-Damu" program covers 771 rural settlements in 12 regions of the Republic, located near 28 specially protected natural areas. Total budget of the program is 288 mln tenge.
To recall, the first stage of the "Eco-Damu" lending was launched in 2014-2015.
"This is not the first agreement between the Fund for Financial Support of Agriculture and UNDP. In 2008-2013 a joint project "Tabigi Orta" was implemented, under which 154 residents of villages located near specially protected natural areas received microcredits totaling 221.4 million tenge. In total, since 2008, in cooperation with the UNDP funded 221 projects worth 561.6 million tenge, including funds from the Fund amounted to 216.6 million tenge. Such programs give villagers an opportunity to open and develop micro-businesses, create new jobs while protecting the environment", - says Zhandar Omarov, Chairman of the Fund.
It should be noted that one of the main directions of the Eco-Damu program is to achieve gender equality in ensuring equal economic opportunities. Therefore, women are the most priority participants in obtaining credit under this program.
To apply for the program, applicants should apply to the regional branch of the Fund for Financial Support of Agriculture in their region.
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